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Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process...

Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company’s production schedule for May:

Percent Completed
Tons of Pulp Materials Conversion
Work-in-Process Inventory, May 1 5,000 100 % 50 %
Started during May 15,000
Units to account for 20,000
Units from beginning Work-in-Process, which
were completed and transferred out during May		 5,000
Started and completed during May 12,00
Work-in-Process Inventory, May 31 3,000 100 % 50 %
Total units accounted for 20,000

The following cost data are available:

Work-in-Process Inventory, May 1
Direct materials $ 94,000
Conversion 133,120
Costs incurred during May
Direct materials 229,800
Conversion 376,000

Required:

1. Calculate the equivalent units of direct materials and conversion during May. Use the weighted-average method.

2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the weighted-average method.

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